Dangote Becomes Africa’s First $20billion Man

Businessman and philanthropist, Alhaji Aliko Dangote, has added another first to his name – aside becoming the first richest Blackman in the world, he has become the first African entrepreneur to lay claim to a $20 billion fortune.

The Nation reports that the surge in Dangote’s fortune could be traced to the stock value of his largest holding, Dangote Cement, which leaped just about three-fourths since March when Forbes released its annual ranking of the world’s richest people. Continue to read after the cut...

The report further states that Aliko Dangote’s 93 per cent stake in the cement company, is now worth $19.5 billion. When added to his majority holding in other public-listed companies like Dangote Sugar and National Salt Company of Nigeria and his significant shareholdings in other blue-chips like Zenith Bank, UBA Group and Dangote Flour; his extensive real estate portfolio, jets, yachts and current cash worth, which includes more than $300 million in recently awarded Dangote Cement dividends, it is not difficult to see why the businessman is now worth more than $20 billion.

To put it in a proper perspective, Dangote is now among the top 25 richest people in the world; richer than Russia’s richest man, Alisher Usmanov; richer than India’s steel magnate, Lakshmi Mittal and rubbing shoulders with another Indian, Mukesh Ambani. He is also catching up to such Americans as Google’s billionaire founders, Larry Page and Sergey Brin.